IMF starts first review of $5.3bn Assistance Package

The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from August 28–September 10, 2016 on the first review of Iraq’s 36-month $5.3-billion Stand-By Arrangement (SBA) approved by the IMF Executive Board on July 7, 2016.

“The Iraqi authorities and IMF staff started discussions on the first review of the SBA. These discussions will continue during the upcoming IMF and World Bank Annual Meetings from October 7–9, 2016 in Washington, DC.

“During the mission, the team met with the Minister of Finance Hoshyar Zebari, Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Allaq, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministries of finance, oil, planning, electricity, the CBI, and representatives from the Kurdistan Regional Government, Board of Supreme Audit, and pension commission.

“The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.